Tesco: ‘Encouraging signs inflation is starting to ease’ as quarterly revenue tops £14.8bn June 16, 2023 Britain’s biggest supermarket Tesco has reported a nine per cent increase in UK sales, with its new chief executive saying there are “encouraging early signs that inflation is starting to ease”. Tesco said it reported £13bn in sales across the UK and Republic of Ireland, up almost nine per cent on the previous quarter. In [...]
Adam Smith 300: Rainer Zitelmann interviews Eamonn Butler June 16, 2023 We don’t know his exact birthday, but June 16 is the 300th day of Adam Smith’s baptism. What’s clear however is that he changed the science of economics, and the nature of society, forever with his publication of The Wealth of Nations. It is still cited today as the most powerful argument in favour of [...]
Adam Smith 300: Nine global economists have their say on the pioneer’s importance June 16, 2023 Friday, 16 June 2023 marks the 300th anniversary of Adam Smith’s baptism. The German economic historian and sociologist Rainer Zitelmann, author of the book In Defence of Capitalism , asked free-market economists from nine countries to assess the historical significance of Adam Smith. Professor Stefan Kooths, Kiel Institute for the World Economy, IfW, Germany “What [...]
Introduce sustainable supply chains to meet your ESG goals June 13, 2023 An organisation’s supply chain typically accounts for over ten times more emissions than its operations. Addressing the impact of the supply chain is key for any business that wants to reduce its impact on the environment. We have seen a move in the market towards including sustainability and impact drafting in contracts to make improvements [...]
CMA hits out at Asda and Sainsbury’s for restricting competition June 13, 2023 Asda and Sainsbury’s broke anti-competition rules a combined total of 32 times between 2011 and 2019, the competition watchdog said this morning. The Competition and Markets Authority (CMA) said the ‘Big Four’ supermarkets broke the Groceries Market Investigation (Controlled Land) Order 2010, which was brought in to stop supermarkets imposing new restrictions that stop rivals [...]
Political pressure builds on banks to close gap between savings and mortgage rates June 12, 2023 Banks have been shortchanging customers for nearly a year with the average mortgage rates exceeding savings rates by over three per cent since last July. According to data from Moneyfacts, at the end of last week the average rate on offer for a two year mortgage was 5.87. The average rate on a savings account [...]
Tesco prepares its quarterly results as UK competition regulator circles supermarket June 11, 2023 Tesco is set to report its first quarter trading results on Friday as the UK’s competition regulator circles the country’s largest supermarket chain over concerns about its pricing strategies. Last week, it emerged that consumer goods champion Which? had reported Tesco to the Competition and Markets Authority (CMA) over claims that it does not display [...]
FCA’s new crypto advertising rules met with mixed industry response June 8, 2023 A round-up of industry reaction to the FCA's sweeping new rules surrounding the marketing and promotion of digital assets.
Hitachi billion-pound deal to buy UK signalling could hurt TfL: regulator June 8, 2023 The UK’s competition watchdog has provisionally ruled that Hitachi’s 1.7 billion euro (£1.36 billion) proposed purchase of Thales’s rail infrastructure could drive up prices and reduce service quality for passengers. The findings could lead to the merger being blocked. The Competition and Markets Authority (CMA) said the deal involves two of the leading suppliers of [...]
Ed Warner: Remove Fifa toxicity to get Women’s World Cup on the box June 8, 2023 When a global sporting event takes place without TV coverage, does it really happen? Or at least, does it really matter? That question should be front of mind for all the protagonists in the standoff over broadcast rights for next month’s Fifa Women’s World Cup. Blank screens are looming larger with every passing day in [...]